Word: auriolism
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...thumping event which firmed the franc on international exchange, showed that London is standing with Paris in friendly entente. The event: British bankers loaned $250,000,000 at 3½%, repayable within one year, to the French State railways. "I categorically deny," keynoted French Finance Minister Vincent Auriol, "that our monetary unit will be permitted to move lower...
...dollar in such fashion as to "cheat" holders of U. S. Government bonds is impossible, but under French law last week the French Taxpayers Federation, which claims a membership of 1,000,000 filed such a suit against both Premier Leon Blum and Finance Minister Vincent Auriol...
...malfeasance charged was offering to the French public "Baby Bonds" and then, after unloading as many of these as could be sold in France, cheating the bondholders by devaluing the franc and thus reducing the value of both principal and interest. The fact that MM. Blum and Auriol have admitted that while selling the bonds in France, they were carrying on simultaneous devaluationary parleys with U. S. Secretary of the Treasury Henry Morgenthau Jr. and British Chancellor of the Exchequer Neville Chamberlain, was held by the 1,000,000 taxpayers to be conclusive proof of fraud...
...place in which the Secretary's new kind of gold standard was taken seriously was Paris, where Premier Leon Blum and Finance Minister Vincent Auriol, attacked by enemies of their devaluation move, have been trying to convince the skeptical French public that they actually have obtained from Mr. Morgenthau and from British Chancellor of the Exchequer Neville Chamberlain a binding accord to keep the dollar, pound and franc all stabilized at their present level (TIME, Oct. 5). Cried M. Auriol: "Mr. Morgenthau has made the best answer both to the skeptics who called our original accord illusory...
...last week riding the crest of acclaim. Deputies and Senators who used to scoff at his ideas showed strong inclination to regard him as an expert pilot in the difficult monetary channel France must now navigate. Deputy Reynaud dismissed as of minimum importance the stabilization agreement Finance Minister Vincent Auriol had verbally obtained from U. S. Secretary of the Treasury Henry Morgenthau Jr. and British Chancellor of the Exchequer Neville Chamberlain (TIME, Oct. 5). It was scarcely worth the breath in which it w.as spoken, M. Reynaud indicated, but it was also harmless since neither Washington nor London...